Kings Path Partners LLC Acquires Shares of 22,425 Perella Weinberg Partners (NASDAQ:PWP)

Kings Path Partners LLC bought a new position in shares of Perella Weinberg Partners (NASDAQ:PWP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 22,425 shares of the company’s stock, valued at approximately $535,000.

Several other institutional investors have also modified their holdings of PWP. Westwood Holdings Group Inc. purchased a new stake in Perella Weinberg Partners during the 2nd quarter worth approximately $35,715,000. Millennium Management LLC increased its stake in shares of Perella Weinberg Partners by 2,883.9% in the second quarter. Millennium Management LLC now owns 1,723,785 shares of the company’s stock worth $28,012,000 after buying an additional 1,666,015 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Perella Weinberg Partners in the second quarter valued at $20,198,000. Wellington Management Group LLP boosted its stake in Perella Weinberg Partners by 200.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,157,605 shares of the company’s stock valued at $22,353,000 after acquiring an additional 771,736 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Perella Weinberg Partners by 175.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 570,719 shares of the company’s stock worth $11,021,000 after acquiring an additional 363,331 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock.

Insider Activity at Perella Weinberg Partners

In other news, President Dietrich Becker sold 442,889 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $24.48, for a total transaction of $10,841,922.72. Following the transaction, the president now directly owns 379,140 shares of the company’s stock, valued at approximately $9,281,347.20. This trade represents a 53.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Bednar sold 300,579 shares of Perella Weinberg Partners stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $24.48, for a total transaction of $7,358,173.92. Following the sale, the chief executive officer now owns 566,386 shares in the company, valued at approximately $13,865,129.28. This represents a 34.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 43.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, JMP Securities upped their target price on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th.

Perella Weinberg Partners Trading Up 3.6 %

Perella Weinberg Partners stock traded up $0.83 during mid-day trading on Monday, reaching $23.98. The company’s stock had a trading volume of 193,396 shares, compared to its average volume of 495,479. Perella Weinberg Partners has a twelve month low of $10.73 and a twelve month high of $26.62. The business has a 50 day moving average price of $24.20 and a 200-day moving average price of $20.56. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of -10.12 and a beta of 1.57.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14. The business had revenue of $278.20 million during the quarter, compared to the consensus estimate of $196.42 million. Perella Weinberg Partners had a negative net margin of 11.09% and a negative return on equity of 295.65%. The company’s revenue for the quarter was up 100.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.12 EPS.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th were issued a $0.07 dividend. The ex-dividend date was Wednesday, December 4th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.17%. Perella Weinberg Partners’s dividend payout ratio (DPR) is presently -11.81%.

About Perella Weinberg Partners

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.